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The Memorandum of Procedure sets out the process and ___ for repaying liabilities.
ASalaries
BTimelines
CPrices
DPenalties
Answer & Solution
Correct answer: B. Timelines
1. The MoP explains how customers and merchants get repaid.
2. It also says by when.
3. So it carries process and timelines.
_Source: RBI Master Directions on Authorisation to operate a Payment System._
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